Oil plummets 30% as OPEC deal failure sparks price war fears

Re:Oil plummets 30% as OPEC deal failure sparks price war fears by ac29 on Sunday March 08, 2020 @08:04PM (#22521653)

Their oil-funded sovereign wealth fund has a value of 1T USD [0]. If they manage to achieve modest 4.4% returns, those returns would represent 10% of GDP. Last year, it returned 187B USD [1], or the equivalent of 42% of GDP (though I don't believe the fund's returns are considered part of GDP).

[0] https://www.nbim.no/en/

[1] https://www.nbim.no/contentassets/3d447c795db84a18b54df8dd87...

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Re:Oil plummets 30% as OPEC deal failure sparks price war fears by xyproto on Monday March 09, 2020 @04:59AM (#22523977)

Yes, but the other Nordic states does not have similar savings, but are still doing well. I agree that it's a huge advantage, but I'm not convinced that the oil has been key for Norway.

I think using only the oil as the explanation is a bit too simple. There is a well functioning social democracy in place, with a high level of trust both in the government and in the other inhabitants.

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